|
Sinclair V Brougham
''Sinclair v Brougham'' 914AC 398 is an English trusts law case, concerning the right of depositors to recover sums which were deposited (or loaned) to a building society under contracts of deposit which were beyond the powers of (''ultra vires'') the building society. Facts The Birkbeck Permanent Benefit Society was formed under the Building Societies Act 1836, but was never registered under the Building Societies Act 1874. Under rule 35 of the Society’s constitution it was allowed to borrow money. Rule 97 said that losses should be shared among the two classes of shareholders in different proportions. From the start it developed a banking business, the Birkbeck Bank, but this was wound up in 1911. The four groups of creditors were (1) A shareholders who would be repaid on maturity, (2) B shareholders who had permanent shares (3) trade creditors and (4) depositors. The trade creditors and the A shareholders had their claims settled by an agreement. The liquidator brought ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Functions Of The House Of Lords
Whilst the House of Lords of the United Kingdom is the upper chamber of Parliament and has government ministers, it for many centuries had a judicial function. It functioned as a court of first instance for the trials of peers, for impeachments, and as a court of last resort in the United Kingdom and prior, the Kingdom of Great Britain and the Kingdom of England. Appeals were technically not to the House of Lords, but rather to the King-in-Parliament. In 1876, the Appellate Jurisdiction Act devolved the appellate functions of the House to an Appellate Committee, composed of Lords of Appeal in Ordinary (informally referred to as Law Lords). They were then appointed by the Lord Chancellor in the same manner as other judges. During the 20th and early 21st century, the judicial functions were gradually removed. Its final trial of a peer was in 1935, and in 1948, the use of special courts for such trials was abolished. The procedure of impeachment became seen as obsolete. In 2009, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Void (law)
In law, void means of no legal effect. An action, document, or transaction which is void is of no legal effect whatsoever: an absolute nullity—the law treats it as if it had never existed or happened. The term void ''ab initio'', which means "to be treated as invalid from the outset", comes from adding the Latin phrase ''ab initio'' (from the beginning) as a qualifier. For example, in many jurisdictions where a person signs a contract under duress, that contract A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to ... is treated as being void ''ab initio''. The frequent combination "null and void" is a legal doublet. The term is frequently used in contradistinction to the term " voidable" and " unenforceable". Definitions '' Black's Law Dictionary'' defines 'void' as: In the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
In Re Guardian Permanent Benefit Building Society
IN, In or in may refer to: Places * India (country code IN) * Indiana, United States (postal code IN) * Ingolstadt, Germany (license plate code IN) * In, Russia, a town in the Jewish Autonomous Oblast Businesses and organizations * Independent Network, a UK-based political association * Indiana Northeastern Railroad (Association of American Railroads reporting mark) * Indian Navy, a part of the India military * Infantry, the branch of a military force that fights on foot * IN Groupe , the producer of French official documents * MAT Macedonian Airlines (IATA designator IN) * Nam Air (IATA designator IN) Science and technology * .in, the internet top-level domain of India * Inch (in), a unit of length * Indium, symbol In, a chemical element * Intelligent Network, a telecommunication network standard * Intra-nasal (insufflation), a method of administrating some medications and vaccines * Integrase, a retroviral enzyme Other uses * ''In'' (album), by the Outsiders, 1967 * In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Failure Of Consideration
Failure of consideration is a technical legal term referring to situations in which one person confers a benefit upon another upon some condition or basis ("consideration") which fails to materialise or subsist. It is also referred to as "failure of basis". It is an ' unjust factor' for the purposes of the law of unjust enrichment. Where there is a "total failure of consideration" the claimant can seek restitution of the benefit by bringing an action in unjust enrichment against the defendant. Historically speaking, this was as a quasi-contractual claim known as an action for money had and received to the plaintiff's use for a consideration that wholly failed. The orthodox view is that it is necessary for any relevant contract to be ineffective, for example because it is discharged for breach, void ''ab initio'' (from the beginning) or frustrated. However, it will be available on a subsisting contract where it does not undermine the contractual allocation of risk. Failure of c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Haugesund Kommune V DEPFA ACS Bank
and the subsequent decision in were decisions of the Court of Appeal of England and Wales, English Court of Appeal relating to the consequences of certain derivative (finance), swap transactions which had been entered into between the Irish bank and the List of municipalities of Norway, Norwegian kommune, but were held to be beyond the powers of ("''ultra vires''") the kommune. In his judgment Richard Aikens, Lord Justice Aikens noted the striking similarity between the case before him, and the long series of decisions in the local authorities swaps litigation relating to similar transactions entered into by English local authorities.Haugesund Kommune v DEPFA (No 1)', at paragraphs 1-2. "History repeats itself, at least with variations. In the 1990s there was much litigation in the English courts arising from English local government authorities concluding "interest-rate swaps" contracts with banks. The contracts were disastrous for the local authorities and eventually distric ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resulting Trust
A resulting trust is an implied trust that comes into existence by operation of law, where property is transferred to someone who pays nothing for it; and then is implied to have held the property for benefit of another person. The trust property is said to "result" or jump back to the transferor (implied settlor). In this instance, the word 'result' means "in the result, remains with", or something similar to "revert" except that in the result the beneficial interest is held on trust for the settlor. Not all trusts whose beneficiary is also the settlor can be called resulting trusts. In common law systems, the resulting trust refers to a subset of trusts which have such outcome; express trusts which stipulate that the settlor is to be the beneficiary are not normally considered resulting trusts. Another understanding of resulting trusts could be an equitable instrument used to rectify and reverse unjust enrichment. The beneficial interest results in the settlor, or if the settlo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pari Passu
''Pari passu'' is a Latin phrase that literally means "with an equal step" or "on equal footing". It is sometimes translated as "ranking equally", "hand-in-hand", "with equal force", or "moving together", and by extension, "fairly", "without partiality". Etymology :* '' pari'' is the ablative singular masculine (since it must grammatically agree with ''passu'') of the adjective ''par'', "equal". If it were nominative, "an equal step" it would be ''par passus''. :* '' passu'' is the ablative of the Latin noun ''passus'', "step". This term is commonly used in law. '' Black's Law Dictionary'' (8th ed., 2004) defines ''pari passu'' as "proportionally; at an equal pace; without preference". Usage In inheritance In inheritance, a ''pari passu'' ('' per capita'') distribution can be distinguished from a '' per stirpes'' (by family branch) distribution. For example, suppose a testator had two children A and B. A has two children, and B has three. * If the testator leaves his or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Re Hallett's Estate
''Re Hallett’s Estate'' (1880) 13 Ch D 696 is an English trusts law case, concerning asset tracing. Facts Mr Hallett, a solicitor, held bonds for Mrs Cotterill worth £2145 until he wrongfully sold them and put the proceeds in his current bank account, with Winning’s Bank, mixed with his own money. When he died the account had £3000. Judgment High Court Fry J was concerned with whether Mr Hallett had a fiduciary relation, given he held as a bailee, and not a trust, strictly speaking. He held the first in first out rule applied, following Pennell v Deffell (1853) 4 De GM&G 372, so that a large proportion of Mrs Cotterrill’s money was in fact already paid out. Court of Appeal Lord Jessel MR held that there was a fiduciary relationship, and the proceeds of the sale of the bonds could be traced. It then went back to determine how much could be traced. A trustee cannot say trust money is merely lost. He reversed Fry J and held that the claimants were entitled to an equit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Portrait Of Richard Haldane, 1st Viscount Haldane
A portrait is a painting, photograph, sculpture, or other artistic representation of a person, in which the face and its expressions are predominant. The intent is to display the likeness, personality, and even the mood of the person. For this reason, in photography a portrait is generally not a snapshot, but a composed image of a person in a still position. A portrait often shows a person looking directly at the painter or photographer, in order to most successfully engage the subject with the viewer. History Prehistorical portraiture Plastered human skulls were reconstructed human skulls that were made in the ancient Levant between 9000 and 6000 BC in the Pre-Pottery Neolithic B period. They represent some of the oldest forms of art in the Middle East and demonstrate that the prehistoric population took great care in burying their ancestors below their homes. The skulls denote some of the earliest sculptural examples of portraiture in the history of art. Historical p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Fletcher Moulton, Baron Moulton
John Fletcher Moulton, Baron Moulton, (18 November 1844 – 9 March 1921) was an English mathematician, barrister, judge and Liberal politician. He was a Cambridge Apostle. Early life Moulton was born in Madeley, Shropshire, England, as one of six children of a scholarly minister of the Wesleyan Methodist Church, James Egan Moulton. He was sent to Kingswood School at the age of 11 where he excelled at academic subjects. He achieved the top marks in the Oxford and Cambridge Local Examinations and achieved a scholarship to St John's College, Cambridge, graduating Senior Wrangler in 1868 and winning the Smith's Prize. He was at one point judged to be one of the twelve most intelligent men in the United Kingdom. Career After a brilliant mathematical career at Cambridge and election to a Fellowship, Moulton became a London barrister, specialising in patent law. He also experimented on electricity and was elected a Fellow of the Royal Society. A great advocate for medica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Buckley, 1st Baron Wrenbury
Henry Burton Buckley, 1st Baron Wrenbury, PC (15 September 1845 – 27 October 1935), was a British barrister and judge. Buckley was the fourth son of Reverend John Wall Buckley and his wife Elizabeth Burton, daughter of Thomas Burton; his elder sister Arabella was a writer and science educator. He was educated at Merchant Taylors' School and at Christ's College, Cambridge. He was Tancred law student from 1866 to 1872. Buckley was called to the bar at Lincoln's Inn in 1869, and became a Queen's Counsel in 1886. He was a member of the Bar Committee and of the Bar Council from 1882 to 1898. In January 1900 he was appointed a judge of the High Court of Justice of England and Wales, and he received the customary knighthood from Queen Victoria at Windsor Castle on 3 March 1900. He became a Lord Justice of Appeal and was admitted to the Privy Council in 1906, and on his retirement in 1915 he was raised to the peerage as Baron Wrenbury, of Old Castle in the County of East Sussex. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Herbert Cozens-Hardy, 1st Baron Cozens-Hardy
Herbert Hardy Cozens-Hardy, 1st Baron Cozens-Hardy, (1838–1920) was a British politician and judge who served as Master of the Rolls from 1907 until 1918. Early life and career Cozens-Hardy was born in Letheringsett, Norfolk in 1838, the second son of William Hardy Cozens-Hardy, a former Norwich solicitor, and Sarah, ''née'' Theobald, daughter of Thomas Theobald, textile manufacturer. His grandmother was the diarist Mary Hardy. His family were Methodists, a connection which proved to be useful in his career at the bar. Cozens-Hardy was educated at Amersham School and University College, London, where he matriculated in 1858 and gained the LLB in 1863, later becoming a fellow of University College. He was called to the bar at Lincoln's Inn in 1862, and read in the chambers of Thomas Lewin and James Dickinson. Cozens-Hardy acquired a large junior practice at the Chancery bar, and became Queen's Counsel in 1882. It was then the practice of Chancery Queen's Counsels ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
